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Strong action will continue in the primary market next week starting from March 4, as eight initial public offerings (IPOs) are set to open for subscription, and seven companies are scheduled for listing on the bourses.
The cumulative funds to be raised by the eight IPO-bound companies will be Rs 1,483.2 crore.
RK Swamy, the data-driven integrated marketing services provider, is set to be the first from the mainboard segment to hit Dalal Street next week, with an initial public offering of Rs 423.56 crore on March 4. The IPO is a mix of fresh issuance of shares worth Rs 173 crore and an offer-for-sale (OFS) of 87 lakh shares worth Rs 250.56 crore at the upper price band.
Also read: RK Swamy IPO: 10 things to know before subscribing to the Rs 423-crore issue
The price band for the offer, which closes on March 6, has been fixed at Rs 270-288 per share.
Zinc oxide manufacturer JG Chemicals will open its Rs 251.2-crore public issue for subscription on March 5, with a price band of Rs 210-221 per share. The IPO, which comprises a fresh issue of Rs 165 crore worth shares and an OFS of 39 lakh shares worth Rs 86.19 crore, will close on March 7.
The maiden public issue of Rajkot-based ethnic and western snacks maker Gopal Snacks will be opened for subscription on March 6, and will close on March 11, with a price band of Rs 381-401 per share.
The company intends to raise Rs 650 crore through its IPO comprising only an OFS by the existing shareholders.
V R Infraspace will be the first IPO from the SME segment to hit the street next week on March 4. The price for the public issue, which closes on March 6, has been fixed at Rs 85 per share.
The Gujarat-based real estate developer is planning to raise Rs 20.4 crore through its issue.
The Uttar Pradesh-based agricultural machinery manufacturing company is going to open its maiden public issue on March 5 with a price band of Rs 136-143 per share. The final day for bidding will be March 7.
Sona Machinery intends to mobilise Rs 51.82 crore through the IPO comprising only a fresh issue.
The Gujarat-based customised knitted and woven fabrics producer is set to launch its Rs 42.5-crore public issue on March 6 and the last day for bidding will be March 11.
The price band for the IPO, which consists of only a fresh issue, has been fixed at Rs 220-227 per share.
Koura Fine Diamond Jewelry IPO
The Rs 5.5-crore IPO of the Ahmedabad-based gold and diamond jewellery wholesaler will also open for subscription from March 6-11. The price has been set at Rs 55 per share for its fixed price issue.
The Pune E-Stock Broking IPO will be the last from the SME segment next week, opening on March 7 and closing on March 12. The price band for the book built issue has been set at Rs 78-83 per share.
The broking house is planning to mobilise Rs 38.23 crore through its public issue of 46.06 lakh equity shares.
Further, fish protein products maker Mukka Proteins will close its Rs 224-crore public issue on March 4, while the Rs 66-crore IPO of sugar producer MVK Agro Food Product will also close on the same day.
Listings
Stabilisers producer Platinum Industries as well as electric vehicle charging solutions provider Exicom Tele-Systems will list their equity shares on the bourses on March 5 after raising Rs 235.32 crore and Rs 429 crore, respectively, through their IPOs. Their subscription stood at 99.03 times and 129.54 times, respectively.
Both are expected to debut on a robust note as the market observers said their shares traded at 54 percent and more than 100 percent premium over the issue price of Rs 171 and Rs 142 per share, respectively, in the grey market, an unofficial platform for trading in the IPO shares till the listing.
Further, Bharat Highways Infrastructure Investment Trust will list its units on March 6 after raising Rs 2,500 crore through its public issue that was subscribed 8.01 times last week, whereas, the listing date for Mukka Proteins shares is March 7.
Bharat Highways InvIT units have not attracted any premium in the grey market, while the Mukka Proteins IPO shares were available at around 90 percent premium over the likely final issue price of Rs 28 per share, indicating the possibility of healthy listing.
In the SME segment, Owais Metal and Mineral Processing will list its equity shares on the NSE Emerge on March 4, Purv Flexipack on March 5 and MVK Agro Food Product on March 7.
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